Essec\Faculty\Model\Profile {#2216
#_id: "B00024824"
#_source: array:40 [
"bid" => "B00024824"
"academId" => "2057"
"slug" => "daures-laurence"
"fullName" => "Laurence DAURES"
"lastName" => "DAURES"
"firstName" => "Laurence"
"title" => array:2 [
"fr" => "Professeur"
"en" => "Professor"
]
"email" => "daures@essec.edu"
"status" => "ACTIF"
"campus" => "Campus de Cergy"
"departments" => []
"phone" => "+33 (0)1 34 43 33 62"
"sites" => []
"facNumber" => "2057"
"externalCvUrl" => "https://faculty.essec.edu/en/cv/daures-laurence/pdf"
"googleScholarUrl" => "https://scholar.google.com/citations?user=bWPlho0AAAAJ"
"facOrcId" => "https://orcid.org/0000-0002-7323-4807"
"career" => array:14 [
0 => Essec\Faculty\Model\CareerItem {#2249
#_index: null
#_id: null
#_source: array:7 [
"startDate" => "2004-09-01"
"endDate" => "2008-08-31"
"isInternalPosition" => true
"type" => array:2 [
"fr" => "Positions académiques principales"
"en" => "Full-time academic appointments"
]
"label" => array:2 [
"fr" => "Professeur assistant"
"en" => "Assistant Professor"
]
"institution" => array:2 [
"fr" => "ESSEC Business School"
"en" => "ESSEC Business School"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
1 => Essec\Faculty\Model\CareerItem {#2250
#_index: null
#_id: null
#_source: array:7 [
"startDate" => "2008-09-01"
"endDate" => "2024-08-31"
"isInternalPosition" => true
"type" => array:2 [
"fr" => "Positions académiques principales"
"en" => "Full-time academic appointments"
]
"label" => array:2 [
"fr" => "Professeur associé"
"en" => "Associate Professor"
]
"institution" => array:2 [
"fr" => "ESSEC Business School"
"en" => "ESSEC Business School"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
2 => Essec\Faculty\Model\CareerItem {#2251
#_index: null
#_id: null
#_source: array:7 [
"startDate" => "2016-09-01"
"endDate" => "2018-12-31"
"isInternalPosition" => true
"type" => array:2 [
"en" => "Other appointments"
"fr" => "Autres positions"
]
"label" => array:2 [
"fr" => "Directrice du Centre d'Excellence de l'ESSEC "Capital Markets and Regulation""
"en" => "Head of the ESSEC Center of Excellence "Capital Markets and Regulation""
]
"institution" => array:2 [
"fr" => "ESSEC Business School"
"en" => "ESSEC Business School"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
3 => Essec\Faculty\Model\CareerItem {#2252
#_index: null
#_id: null
#_source: array:7 [
"startDate" => "2004-07-01"
"endDate" => null
"isInternalPosition" => true
"type" => array:2 [
"en" => "Other appointments"
"fr" => "Autres positions"
]
"label" => array:2 [
"fr" => "Chercheur"
"en" => "Research fellow"
]
"institution" => array:2 [
"fr" => "Centre de recherche en économie et statistique (CREST)"
"en" => "Centre de recherche en économie et statistique (CREST)"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
4 => Essec\Faculty\Model\CareerItem {#2253
#_index: null
#_id: null
#_source: array:7 [
"startDate" => "2000-01-01"
"endDate" => "2010-06-30"
"isInternalPosition" => true
"type" => array:2 [
"en" => "Other Academic Appointments"
"fr" => "Autres positions académiques"
]
"label" => array:2 [
"fr" => "Chargée de cours en "Microstructure of Financial Markets""
"en" => "Lecturer in "Microstructure of Financial Markets""
]
"institution" => array:2 [
"fr" => "L'École nationale de la statistique et de l'administration économique (ENSAE)"
"en" => "L'École nationale de la statistique et de l'administration économique (ENSAE)"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
5 => Essec\Faculty\Model\CareerItem {#2254
#_index: null
#_id: null
#_source: array:7 [
"startDate" => "2002-01-01"
"endDate" => "2004-12-31"
"isInternalPosition" => true
"type" => array:2 [
"en" => "Other Academic Appointments"
"fr" => "Autres positions académiques"
]
"label" => array:2 [
"fr" => "ATER ("Financial markets", "Introduction to Microeconomics")"
"en" => "Teaching Assistant in "Financial markets" and "Introduction to Microeconomics""
]
"institution" => array:2 [
"fr" => "Université Cergy-Pontoise"
"en" => "Université Cergy-Pontoise"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
6 => Essec\Faculty\Model\CareerItem {#2255
#_index: null
#_id: null
#_source: array:7 [
"startDate" => "1997-09-01"
"endDate" => "1998-09-30"
"isInternalPosition" => true
"type" => array:2 [
"en" => "Professional appointments"
"fr" => "Positions professionnelles"
]
"label" => array:2 [
"fr" => "Consultante, Middle Office"
"en" => "Consultant, Middle Office"
]
"institution" => array:2 [
"fr" => "SGCIB"
"en" => "SGCIB"
]
"country" => array:2 [
"fr" => "Afrique du Sud"
"en" => "South Africa"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
7 => Essec\Faculty\Model\CareerItem {#2256
#_index: null
#_id: null
#_source: array:7 [
"startDate" => "1999-01-01"
"endDate" => "2004-06-30"
"isInternalPosition" => true
"type" => array:2 [
"en" => "Other appointments"
"fr" => "Autres positions"
]
"label" => array:2 [
"fr" => "Membre d'une équipe de recherche"
"en" => "Research team member"
]
"institution" => array:2 [
"fr" => "Centre de recherche en économie et statistique (CREST)"
"en" => "Centre de recherche en économie et statistique (CREST)"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
8 => Essec\Faculty\Model\CareerItem {#2257
#_index: null
#_id: null
#_source: array:7 [
"startDate" => "2016-01-01"
"endDate" => null
"isInternalPosition" => true
"type" => array:2 [
"en" => "Other appointments"
"fr" => "Autres positions"
]
"label" => array:2 [
"fr" => "Chercheur visitant"
"en" => "Visiting researcher"
]
"institution" => array:2 [
"fr" => "Bundesbank"
"en" => "Bundesbank"
]
"country" => array:2 [
"fr" => "Allemagne"
"en" => "Germany"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
9 => Essec\Faculty\Model\CareerItem {#2258
#_index: null
#_id: null
#_source: array:7 [
"startDate" => "2007-09-01"
"endDate" => "2010-08-31"
"isInternalPosition" => true
"type" => array:2 [
"en" => "Other appointments"
"fr" => "Autres positions"
]
"label" => array:2 [
"fr" => "Co-directrice du département Finance (avec José Miguel Gaspar)"
"en" => "Co-Head of the Finance department (with José Miguel Gaspar)"
]
"institution" => array:2 [
"fr" => "ESSEC Business School"
"en" => "ESSEC Business School"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
10 => Essec\Faculty\Model\CareerItem {#2259
#_index: null
#_id: null
#_source: array:7 [
"startDate" => "2010-09-01"
"endDate" => "2011-11-30"
"isInternalPosition" => true
"type" => array:2 [
"en" => "Other appointments"
"fr" => "Autres positions"
]
"label" => array:2 [
"fr" => "Directrice du Département Finance"
"en" => "Head of the Finance department"
]
"institution" => array:2 [
"fr" => "ESSEC Business School"
"en" => "ESSEC Business School"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
11 => Essec\Faculty\Model\CareerItem {#2260
#_index: null
#_id: null
#_source: array:7 [
"startDate" => "2011-01-01"
"endDate" => "2011-04-01"
"isInternalPosition" => true
"type" => array:2 [
"en" => "Other appointments"
"fr" => "Autres positions"
]
"label" => array:2 [
"fr" => "Professeur visitant"
"en" => "Visiting Professor"
]
"institution" => array:2 [
"fr" => "Imperial College Business School"
"en" => "Imperial College Business School"
]
"country" => array:2 [
"fr" => "Royaume-Uni"
"en" => "United Kingdom"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
12 => Essec\Faculty\Model\CareerItem {#2261
#_index: null
#_id: null
#_source: array:7 [
"startDate" => "1999-01-01"
"endDate" => "2000-01-01"
"isInternalPosition" => true
"type" => array:2 [
"en" => "Other Academic Appointments"
"fr" => "Autres positions académiques"
]
"label" => array:2 [
"fr" => "Moniteur (Introduction to Financial Theory - Undergrade)"
"en" => "Teaching Assistant (Introduction to Financial Theory - Undergrade)"
]
"institution" => array:2 [
"fr" => "HEC Paris"
"en" => "HEC Paris"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
13 => Essec\Faculty\Model\CareerItem {#2262
#_index: null
#_id: null
#_source: array:7 [
"startDate" => "2024-09-01"
"endDate" => null
"isInternalPosition" => true
"type" => array:2 [
"fr" => "Positions académiques principales"
"en" => "Full-time academic appointments"
]
"label" => array:2 [
"fr" => "Professeur"
"en" => "Professor"
]
"institution" => array:2 [
"fr" => "ESSEC Business School"
"en" => "ESSEC Business School"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
]
"diplomes" => array:5 [
0 => Essec\Faculty\Model\Diplome {#2218
#_index: null
#_id: null
#_source: array:6 [
"diplome" => "DIPLOMA"
"type" => array:2 [
"fr" => "Diplômes"
"en" => "Diplomas"
]
"year" => "2003"
"label" => array:2 [
"en" => "Ph.D. in Finance"
"fr" => "Doctorat en Finance"
]
"institution" => array:2 [
"fr" => "HEC Paris"
"en" => "HEC Paris"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
1 => Essec\Faculty\Model\Diplome {#2220
#_index: null
#_id: null
#_source: array:6 [
"diplome" => "DIPLOMA"
"type" => array:2 [
"fr" => "Diplômes"
"en" => "Diplomas"
]
"year" => "1999"
"label" => array:2 [
"en" => "M.Sc. in Economics (APE)"
"fr" => "M.Sc. en Economie (APE)"
]
"institution" => array:2 [
"fr" => "EHESS - École des hautes études en sciences sociales"
"en" => "EHESS - École des hautes études en sciences sociales"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
2 => Essec\Faculty\Model\Diplome {#2217
#_index: null
#_id: null
#_source: array:6 [
"diplome" => "DIPLOMA"
"type" => array:2 [
"fr" => "Diplômes"
"en" => "Diplomas"
]
"year" => "1997"
"label" => array:2 [
"en" => "M.Sc. (Research) in Finance"
"fr" => "M.Sc. (Recherche) en Finance"
]
"institution" => array:2 [
"fr" => "Université Paris-Dauphine, PSL"
"en" => "Université Paris-Dauphine, PSL"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
3 => Essec\Faculty\Model\Diplome {#2221
#_index: null
#_id: null
#_source: array:6 [
"diplome" => "DIPLOMA"
"type" => array:2 [
"fr" => "Diplômes"
"en" => "Diplomas"
]
"year" => "1996"
"label" => array:2 [
"en" => "Master in Management"
"fr" => "Master en Management"
]
"institution" => array:2 [
"fr" => "EDHEC Business School"
"en" => "EDHEC Business School"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
4 => Essec\Faculty\Model\Diplome {#2215
#_index: null
#_id: null
#_source: array:6 [
"diplome" => "DIPLOMA"
"type" => array:2 [
"fr" => "Diplômes"
"en" => "Diplomas"
]
"year" => "2024"
"label" => array:2 [
"en" => "Habilitation à diriger des recherches, Finance"
"fr" => "Habilitation à diriger des recherches, Finance"
]
"institution" => array:2 [
"fr" => "Université Toulouse I Capitole"
"en" => "Université Toulouse I Capitole"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
]
"bio" => array:2 [
"fr" => """
<p>Laurence Daures (formerly Lescourret) is Professor of Finance. Her research lies in the area of microstructure of financial markets. Laurence received the PhD Thesis Award in 2004 from the French Finance Association and the National Foundation for Companies Management Academic Education (FNEGE), the "Joseph de la Vega Prize" in 2013 and the IFSID award for the best paper on Derivatives in 2015. She received several research grants from Euronext Paris (2007) , EIF (2008, 2010, 2020) , the French National Research Agency (PRC 2024, <b>JCJC </b>2011) and INEX (Initiative d'Excellence, 2018).</p>\n
\n
<p>She serves on the Board of Directors of <a href="https://www.google.com/url?q=https%3A%2F%2Fwww.3ds.com%2F&sa=D&sntz=1&usg=AFQjCNHj3-m1Y-A6B2zk5dP7wOSV2_QopQ" target="_blank"><b>Dassault Systèmes</b></a><b> </b>and of <a href="https://www.google.com/url?q=https%3A%2F%2Fwww.lcl.com%2F&sa=D&sntz=1&usg=AFQjCNHt79DFIXKD63uJfcChHpznc0knDw" target="_blank"><b>LCL</b></a><b> </b>(Le Credit Lyonnais). She sits in the audit committee of Dassault Systèmes (DS) and chairs the compensation and nomination committee of DS. She sits in the risk committee of LCL and chairs the audit committee of LCL.</p>\n
\n
<p>Laurence holds a PhD in Finance from HEC Paris.</p>\n
\n
<p><a href="https://www.laurencedaures.com" target="_blank">Personal Homepage</a></p>\n
"""
"en" => """
<p>Laurence Daures (previously Lescourret) is Professor of Finance. Her research lies in the area of microstructure of financial markets. Laurence received the PhD Thesis Award in 2004 from the French Finance Association and the National Foundation for Companies Management Academic Education (FNEGE), the "Joseph de la Vega Prize" in 2013 and the IFSID award for the best paper on Derivatives in 2015. She received several research grants from Euronext Paris (2007) , EIF (2008, 2010, 2020) , the French National Research Agency (PRC 2024, JCJC 2011) and INEX (Initiative d'Excellence, 2018).</p>\n
\n
<p>She serves on the Board of Directors of <a href="https://www.google.com/url?q=https%3A%2F%2Fwww.3ds.com%2F&sa=D&sntz=1&usg=AFQjCNHj3-m1Y-A6B2zk5dP7wOSV2_QopQ" target="_blank"><b>Dassault Systèmes</b></a><b> </b>and of <a href="https://www.google.com/url?q=https%3A%2F%2Fwww.lcl.com%2F&sa=D&sntz=1&usg=AFQjCNHt79DFIXKD63uJfcChHpznc0knDw" target="_blank"><b>LCL</b></a><b> </b>(Le Credit Lyonnais). She sits in the audit committee of Dassault Systèmes (DS) and chairs the compensation and nomination committee of DS. She sits in the risk committee of LCL and chairs the audit committee of LCL.</p>\n
\n
<p>Laurence holds a PhD in Finance from HEC Paris.</p>\n
\n
<p><a href="https://www.laurencedaures.com" target="_blank">Personal Homepage</a></p>\n
"""
]
"department" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"site" => array:2 [
"fr" => "https://www.laurencedaures.com"
"en" => "https://www.linkedin.com/in/laurence-daures"
]
"industrrySectors" => array:2 [
"fr" => "Banques - Services et logiciels informatiques"
"en" => "Banks - IT Services & Software"
]
"researchFields" => array:2 [
"fr" => "Microstructure des marchés - organisation industrielle des marchés financiers - liquidité"
"en" => "Market Microstructure - industrial organization of financial markets - liquidity"
]
"teachingFields" => array:2 [
"fr" => "Microstructure des marchés - Finance d'entreprise - Marchés financiers et institutions financières"
"en" => "Market Microstructure - Corporate Finance - Financial Markets & Institutions"
]
"distinctions" => array:11 [
0 => Essec\Faculty\Model\Distinction {#2263
#_index: null
#_id: null
#_source: array:6 [
"date" => "2007-01-01"
"label" => array:2 [
"fr" => "Bourse de recherche d'Euronext Paris pour un projet de recheche sur le marché des "Credit Default Swap", (avec A. Fulop)"
"en" => "Research grant from Euronext Paris for a research project on the Credit Default Swap market (joint with A. Fulop)"
]
"type" => array:2 [
"fr" => "Bourses"
"en" => "Grants"
]
"tri" => " 2 "
"institution" => array:2 [
"fr" => null
"en" => null
]
"country" => array:2 [
"fr" => null
"en" => null
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
1 => Essec\Faculty\Model\Distinction {#2264
#_index: null
#_id: null
#_source: array:6 [
"date" => "2010-01-01"
"label" => array:2 [
"fr" => "Bourse de recherche pour un projet de recherche sur " inventory management across different trading platforms" (avec S. Moinas)"
"en" => "Research grant for a research project on inventory management across different trading platforms (joint with S. Moinas)"
]
"type" => array:2 [
"fr" => "Bourses"
"en" => "Grants"
]
"tri" => " 2 "
"institution" => array:2 [
"fr" => "Institut Europlace de Finance (IEF)"
"en" => "Institut Europlace de Finance (IEF)"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
2 => Essec\Faculty\Model\Distinction {#2265
#_index: null
#_id: null
#_source: array:6 [
"date" => "2008-01-01"
"label" => array:2 [
"fr" => "Bourse de recherche pour un projet de recherche sur les externalités de la liquidité (avec JM Gaspar)"
"en" => "Research grant for a research project on liquidity externalities (joint with JM Gaspar)"
]
"type" => array:2 [
"fr" => "Bourses"
"en" => "Grants"
]
"tri" => " 2 "
"institution" => array:2 [
"fr" => "Institut Europlace de Finance (IEF)"
"en" => "Institut Europlace de Finance (IEF)"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
3 => Essec\Faculty\Model\Distinction {#2266
#_index: null
#_id: null
#_source: array:6 [
"date" => "2011-01-01"
"label" => array:2 [
"fr" => "Bourse de recherche JCJC (Jeunes Chercheuses Jeunes Chercheurs)"
"en" => "Research Grant JCJC (Jeunes Chercheuses Jeunes Chercheurs)"
]
"type" => array:2 [
"fr" => "Bourses"
"en" => "Grants"
]
"tri" => " 2 "
"institution" => array:2 [
"fr" => "Agence Nationale pour la Recherche (ANR)"
"en" => "Agence Nationale pour la Recherche (ANR)"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
4 => Essec\Faculty\Model\Distinction {#2267
#_index: null
#_id: null
#_source: array:6 [
"date" => "2018-01-01"
"label" => array:2 [
"fr" => "Bourse de recherche INEX (Initiative d'Excellence)"
"en" => "Research Grant INEX (Initiative d'Excellence)"
]
"type" => array:2 [
"fr" => "Bourses"
"en" => "Grants"
]
"tri" => " 2 "
"institution" => array:2 [
"fr" => "CY Cergy Paris University, ENSEA, CNRS, ESSEC Business School"
"en" => "CY Cergy Paris University, ENSEA, CNRS, ESSEC Business School"
]
"country" => array:2 [
"fr" => null
"en" => null
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
5 => Essec\Faculty\Model\Distinction {#2268
#_index: null
#_id: null
#_source: array:6 [
"date" => "2020-05-01"
"label" => array:2 [
"fr" => "Bourse de recherche pour un projet sur les Credit default swaps (avec A. Fulop et Y. Gündüz)"
"en" => "Research grant for a project on CDS (joint with A. Fulop and Y. Gündüz)"
]
"type" => array:2 [
"fr" => "Bourses"
"en" => "Grants"
]
"tri" => " 2 "
"institution" => array:2 [
"fr" => "Institut Europlace de Finance (IEF)"
"en" => "Institut Europlace de Finance (IEF)"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
6 => Essec\Faculty\Model\Distinction {#2269
#_index: null
#_id: null
#_source: array:6 [
"date" => "2024-10-01"
"label" => array:2 [
"fr" => "Bourse de Recherche PRC (ECLIPSES)"
"en" => "Research Grant PRC (ECLIPSES)"
]
"type" => array:2 [
"fr" => "Bourses"
"en" => "Grants"
]
"tri" => " 2 "
"institution" => array:2 [
"fr" => "Agence Nationale pour la Recherche (ANR)"
"en" => "Agence Nationale pour la Recherche (ANR)"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
7 => Essec\Faculty\Model\Distinction {#2270
#_index: null
#_id: null
#_source: array:6 [
"date" => "2013-06-27"
"label" => array:2 [
"fr" => "Prix De la Vega en 2013, décerné par la Federation of European Securities Exchanges pour son article “Liquidity Supply across Multiple Trading Venues” (avec S. Moinas)."
"en" => "De la Vega Prize 2013 by the Federation of European Securities Exchanges for the paper “Liquidity Supply across Multiple Trading Venues” (coauthored with S. Moinas)"
]
"type" => array:2 [
"fr" => "Prix"
"en" => "Awards"
]
"tri" => " 1 "
"institution" => array:2 [
"fr" => null
"en" => null
]
"country" => array:2 [
"fr" => null
"en" => null
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
8 => Essec\Faculty\Model\Distinction {#2271
#_index: null
#_id: null
#_source: array:6 [
"date" => "2015-09-01"
"label" => array:2 [
"fr" => "Best Paper Award on Derivatives (sponsorisé par l'IFSID, Montreal Institute of Structured Finance and Derivatives), décerné lors du meeting annuel de la Northern Finance Association, pour leur papier "Transparency Regime Initiatives and Liquidity in the CDS Market.""
"en" => "Best Paper Award on Derivatives, IFSID, Montreal Institute of Structured Finance and Derivatives, Northern Finance Association Annual meeting, for the article "Transparency Regime Initiatives and Liquidity in the CDS Market"."
]
"type" => array:2 [
"fr" => "Prix"
"en" => "Awards"
]
"tri" => " 1 "
"institution" => array:2 [
"fr" => null
"en" => null
]
"country" => array:2 [
"fr" => null
"en" => null
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
9 => Essec\Faculty\Model\Distinction {#2272
#_index: null
#_id: null
#_source: array:6 [
"date" => "2004-01-01"
"label" => array:2 [
"fr" => "Lauréate du "Prix de Thèse FNEGE-AFFI 2004" pour la dissertation doctorale"
"en" => "Winner of the "Prix de Thèse FNEGE-AFFI 2004" for the doctoral dissertation"
]
"type" => array:2 [
"fr" => "Prix"
"en" => "Awards"
]
"tri" => " 1 "
"institution" => array:2 [
"fr" => "Fondation Nationale pour l'Enseignement de la Gestion des Entreprises (FNEGE)"
"en" => "Fondation Nationale pour l'Enseignement de la Gestion des Entreprises (FNEGE)"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
10 => Essec\Faculty\Model\Distinction {#2273
#_index: null
#_id: null
#_source: array:6 [
"date" => "2021-09-22"
"label" => array:2 [
"fr" => "Projet Blanc - Fondation ESSEC"
"en" => "White Project - ESSEC Foundation"
]
"type" => array:2 [
"fr" => "Prix"
"en" => "Awards"
]
"tri" => " 1 "
"institution" => array:2 [
"fr" => null
"en" => null
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
]
"teaching" => []
"otherActivities" => array:28 [
0 => Essec\Faculty\Model\ExtraActivity {#2219
#_index: null
#_id: null
#_source: array:9 [
"startDate" => "2015-01-01"
"endDate" => null
"year" => null
"uuid" => "201"
"type" => array:2 [
"fr" => "Activités de recherche"
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]
"subType" => array:2 [
"fr" => "Organisation d'une conférence ou d'un séminaire"
"en" => "Organization of a conference or a seminar"
]
"label" => array:2 [
"fr" => "Co-organisatrice et co-fondatrice de “Women in Microstructure”- WIM meeting: Online (2021), Online (2020), Huntington (2019), Coronado (2018), Whistler (2017), Utah (2016); Seattle (2015)"
"en" => "Co-organizer and co-founder of “Women in Microstructure”- WIM meeting: Online (2021), Online (2020), Huntington (2019), Coronado (2018), Whistler (2017), Utah (2016); Seattle (2015)"
]
"institution" => array:2 [
"fr" => null
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]
"country" => array:2 [
"fr" => null
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]
]
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}
1 => Essec\Faculty\Model\ExtraActivity {#2222
#_index: null
#_id: null
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"startDate" => "2004-09-01"
"endDate" => null
"year" => null
"uuid" => "204"
"type" => array:2 [
"fr" => "Activités de recherche"
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]
"subType" => array:2 [
"fr" => "Membre d'une association académique"
"en" => "Member of an academic association"
]
"label" => array:2 [
"fr" => "Membre de l'European Finance Association, EFA"
"en" => "Member of European Finance Association, EFA"
]
"institution" => array:2 [
"fr" => null
"en" => null
]
"country" => array:2 [
"fr" => null
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]
]
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}
2 => Essec\Faculty\Model\ExtraActivity {#2223
#_index: null
#_id: null
#_source: array:9 [
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]
"subType" => array:2 [
"fr" => "Membre d'une association académique"
"en" => "Member of an academic association"
]
"label" => array:2 [
"fr" => "Membre de l'Association Française de Finance, AFFI"
"en" => "Member of French Finance Association, AFFI"
]
"institution" => array:2 [
"fr" => null
"en" => null
]
"country" => array:2 [
"fr" => null
"en" => null
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
3 => Essec\Faculty\Model\ExtraActivity {#2224
#_index: null
#_id: null
#_source: array:9 [
"startDate" => "2016-01-01"
"endDate" => null
"year" => null
"uuid" => "501"
"type" => array:2 [
"fr" => "Activités professionnelles"
"en" => "Professional activities"
]
"subType" => array:2 [
"fr" => "Membre d'une association professionnelle, d'un groupe d'experts ou d'un conseil d'administration"
"en" => "Member of a professional association, of an expert group or of a board of directors"
]
"label" => array:2 [
"fr" => "Administratrice indépendante, administateur référent, présidente du comité des rémunérations et des nominations, et membre du comité d'audit"
"en" => "Independent board director, audit committee member, and chair of the compensation and nomination committee"
]
"institution" => array:2 [
"fr" => "Dassault Systèmes"
"en" => "Dassault Systèmes"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
4 => Essec\Faculty\Model\ExtraActivity {#2225
#_index: null
#_id: null
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"startDate" => "2017-01-01"
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"year" => null
"uuid" => "501"
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"en" => "Professional activities"
]
"subType" => array:2 [
"fr" => "Membre d'une association professionnelle, d'un groupe d'experts ou d'un conseil d'administration"
"en" => "Member of a professional association, of an expert group or of a board of directors"
]
"label" => array:2 [
"fr" => "Administratrice indépendante, membre du comité de risques et présidente du comité d'audit"
"en" => "Independent board director, risk committee member and chair of the audit committee"
]
"institution" => array:2 [
"fr" => "LCL (Le Crédit Lyonnais)"
"en" => "LCL (Le Crédit Lyonnais)"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
5 => Essec\Faculty\Model\ExtraActivity {#2226
#_index: null
#_id: null
#_source: array:9 [
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"uuid" => "104"
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]
"subType" => array:2 [
"fr" => "Reviewer pour un journal"
"en" => "Reviewer for a journal"
]
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"fr" => "Relecteur pour Annales d'Économie et de Statistique; Banque et Marchés; Empirical Economics; European Financial Management; Finance; Finance Research Letters; Financial Review; Journal of Banking & Finance; Journal of Empirical Finance; Journal of Financial Markets; Management Science; Quantitative Finance; Review of Finance; The European Journal of Finance"
"en" => "Reviewer for Annales d'Économie et de Statistique; Banque et Marchés; Empirical Economics; European Financial Management; Finance; Finance Research Letters; Financial Review; Journal of Banking & Finance; Journal of Empirical Finance; Journal of Financial Markets; Management Science; Quantitative Finance; Review of Finance; The European Journal of Finance"
]
"institution" => array:2 [
"fr" => null
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]
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]
]
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+"parent": Essec\Faculty\Model\Profile {#2216}
}
6 => Essec\Faculty\Model\ExtraActivity {#2227
#_index: null
#_id: null
#_source: array:9 [
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"year" => null
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]
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"fr" => "Rôle d’expert ou évaluateur dans une organisation de recherche"
"en" => "Role as an expert or appraisor in a research organization"
]
"label" => array:2 [
"fr" => "Evaluateur externe pour Agence Nationale pour la Recherche"
"en" => "Reviewer for Agence Nationale pour la Recherche"
]
"institution" => array:2 [
"fr" => null
"en" => null
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
7 => Essec\Faculty\Model\ExtraActivity {#2228
#_index: null
#_id: null
#_source: array:9 [
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"year" => null
"uuid" => "203"
"type" => array:2 [
"fr" => "Activités de recherche"
"en" => "Research activities"
]
"subType" => array:2 [
"fr" => "Rôle d’expert ou évaluateur dans une organisation de recherche"
"en" => "Role as an expert or appraisor in a research organization"
]
"label" => array:2 [
"fr" => "Evaluateur externe pour SSRHC (Canada)"
"en" => "Reviewer for SSRHC (Canada)"
]
"institution" => array:2 [
"fr" => null
"en" => null
]
"country" => array:2 [
"fr" => "Canada"
"en" => "Canada"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
8 => Essec\Faculty\Model\ExtraActivity {#2229
#_index: null
#_id: null
#_source: array:9 [
"startDate" => "2015-01-01"
"endDate" => "2018-06-30"
"year" => null
"uuid" => "299"
"type" => array:2 [
"fr" => "Activités de recherche"
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]
"subType" => array:2 [
"fr" => "Autre activité académique"
"en" => "Other academic activity"
]
"label" => array:2 [
"fr" => "Membre du jury du prix De La Vega (Federation of European Stock Exchange)"
"en" => "Member of the jury of the De La Vega Prize (Federation of European Stock Exchange)"
]
"institution" => array:2 [
"fr" => null
"en" => null
]
"country" => array:2 [
"fr" => null
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]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
9 => Essec\Faculty\Model\ExtraActivity {#2230
#_index: null
#_id: null
#_source: array:9 [
"startDate" => "2014-06-02"
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"year" => null
"uuid" => "201"
"type" => array:2 [
"fr" => "Activités de recherche"
"en" => "Research activities"
]
"subType" => array:2 [
"fr" => "Organisation d'une conférence ou d'un séminaire"
"en" => "Organization of a conference or a seminar"
]
"label" => array:2 [
"fr" => "Co-organisatrice du Workshop Banque de France-ESSEC “OTC Market: Recent Advances in Research”"
"en" => "Co-organizer of the Banque de France-ESSEC workshop “OTC Market: Recent Advances in Research”"
]
"institution" => array:2 [
"fr" => null
"en" => null
]
"country" => array:2 [
"fr" => null
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]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
10 => Essec\Faculty\Model\ExtraActivity {#2231
#_index: null
#_id: null
#_source: array:9 [
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]
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"en" => "Organization of a conference or a seminar"
]
"label" => array:2 [
"fr" => "Co-organisatrice du workshop ESSEC-HEC-INSEAD-PSE en Economie Financière"
"en" => "Co-organizer of the ESSEC-HEC-INSEAD-PSE Workshop on Financial Economics"
]
"institution" => array:2 [
"fr" => null
"en" => null
]
"country" => array:2 [
"fr" => null
"en" => null
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
11 => Essec\Faculty\Model\ExtraActivity {#2232
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#_id: null
#_source: array:9 [
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"year" => null
"uuid" => "299"
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]
"subType" => array:2 [
"fr" => "Autre activité académique"
"en" => "Other academic activity"
]
"label" => array:2 [
"fr" => "Membre du jury “Euronext-AFFI” pour la meilleure dissertation doctorale"
"en" => "Member of the jury “Euronext-AFFI” for the best doctoral dissertation"
]
"institution" => array:2 [
"fr" => null
"en" => null
]
"country" => array:2 [
"fr" => null
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]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
12 => Essec\Faculty\Model\ExtraActivity {#2233
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#_id: null
#_source: array:9 [
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]
"subType" => array:2 [
"fr" => "Organisation d'une conférence ou d'un séminaire"
"en" => "Organization of a conference or a seminar"
]
"label" => array:2 [
"fr" => "Co-organisateur de la conférence de l'AFFI"
"en" => "Co-organizer of the French Finance Association Meeting"
]
"institution" => array:2 [
"fr" => "Association Française de Finance (AFFI)"
"en" => "Association Française de Finance (AFFI)"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
13 => Essec\Faculty\Model\ExtraActivity {#2234
#_index: null
#_id: null
#_source: array:9 [
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"uuid" => "R1_101"
"type" => array:2 [
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]
"subType" => array:2 [
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"en" => "Participation in scientific commissions or reviewer for a conference"
]
"label" => array:2 [
"fr" => "Membre des Comités de Programme pour les rencontres annuelles de Finance Down Under (2019, 20182017, 2016, 2015)"
"en" => "Member of Program Committees for the annual meetings of: Finance Down Under (2019, 2018, 2017, 2016, 2015)"
]
"institution" => array:2 [
"fr" => null
"en" => null
]
"country" => array:2 [
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]
]
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}
14 => Essec\Faculty\Model\ExtraActivity {#2235
#_index: null
#_id: null
#_source: array:9 [
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]
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"en" => "Participation in scientific commissions or reviewer for a conference"
]
"label" => array:2 [
"fr" => "Membre des Comités de Programme pour les rencontres annuelles de l'European Finance Association (2016, 2015, 2014)"
"en" => "Member of Program Committees for the annual meetings of European Finance Association (2016, 2015, 2014)"
]
"institution" => array:2 [
"fr" => null
"en" => null
]
"country" => array:2 [
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]
]
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}
15 => Essec\Faculty\Model\ExtraActivity {#2236
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]
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"fr" => "Membre des Comités de Programme pour les rencontres annuelles de l'Association Française de Finance (Dec. 2020, Dec. 2019, Dec. 2018, Déc 2017, Déc 2016, Mai 2016, Déc 2015, Mai 2015, Déc 2014, Déc 2013, Déc 2010, Déc. 2009, Déc. 2008, Déc. 2004, Déc. 2001)"
"en" => "Member of Program Committees for the annual meetings of the French Finance Association (Dec. 2020, Dec. 2019, Dec. 2018, Dec 2017, Dec 2016, May 2016, Dec 2015, May 2015, Dec 2014, Dec 2013, Dec 2010, Dec. 2009, Dec. 2008, Dec. 2004, Dec. 2001)"
]
"institution" => array:2 [
"fr" => null
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]
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]
]
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+"parent": Essec\Faculty\Model\Profile {#2216}
}
16 => Essec\Faculty\Model\ExtraActivity {#2237
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]
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"fr" => "Membre des Comités de Programme pour les rencontres annuelles de l'International Workshop on Financial Markets and Nonlinear Dynamics (2017, 2016, 2015)"
"en" => "Member of Program Committees for the annual meetings of the International Workshop on Financial Markets and Nonlinear Dynamics (2017, 2016, 2015)"
]
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"fr" => null
"en" => null
]
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]
]
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}
17 => Essec\Faculty\Model\ExtraActivity {#2238
#_index: null
#_id: null
#_source: array:9 [
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"type" => array:2 [
"fr" => "Services"
"en" => "Services"
]
"subType" => array:2 [
"fr" => null
"en" => null
]
"label" => array:2 [
"fr" => "Coordinatrice académique des programmes PhD (spécialité Finance )"
"en" => "PhD academic coordinator (Finance concentration)"
]
"institution" => array:2 [
"fr" => "ESSEC Business School"
"en" => "ESSEC Business School"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
18 => Essec\Faculty\Model\ExtraActivity {#2239
#_index: null
#_id: null
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"en" => null
]
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"en" => "Academic coordinator of the ESSEC Finance Track"
]
"institution" => array:2 [
"fr" => "ESSEC Business School"
"en" => "ESSEC Business School"
]
"country" => array:2 [
"fr" => "France"
"en" => "France"
]
]
+lang: "en"
+"parent": Essec\Faculty\Model\Profile {#2216}
}
19 => Essec\Faculty\Model\ExtraActivity {#2240
#_index: null
#_id: null
#_source: array:9 [
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"en" => "ESSEC Business School"
]
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]
]
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}
20 => Essec\Faculty\Model\ExtraActivity {#2241
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]
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]
]
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}
21 => Essec\Faculty\Model\ExtraActivity {#2242
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22 => Essec\Faculty\Model\ExtraActivity {#2243
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23 => Essec\Faculty\Model\ExtraActivity {#2244
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24 => Essec\Faculty\Model\ExtraActivity {#2245
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25 => Essec\Faculty\Model\ExtraActivity {#2246
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26 => Essec\Faculty\Model\ExtraActivity {#2247
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27 => Essec\Faculty\Model\ExtraActivity {#2248
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]
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"fr" => "Hongrie"
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]
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0 => Essec\Faculty\Model\Contribution {#2275
#_index: "academ_contributions"
#_id: "6557"
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"id" => "6557"
"slug" => "liquidity-supply-across-multiple-trading"
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"year" => "2013"
"title" => "Liquidity Supply Across Multiple Trading"
"description" => "LESCOURRET, L. et MOINAS, S. (2013). Liquidity Supply Across Multiple Trading. Dans: 30th International Conference of the French Finance Association."
"authors" => array:2 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:1 [
"name" => "MOINAS S."
]
]
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"keywords" => []
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"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
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+"parent": null
}
1 => Essec\Faculty\Model\Contribution {#2277
#_index: "academ_contributions"
#_id: "6559"
#_source: array:18 [
"id" => "6559"
"slug" => "liquidity-supply-across-multiple-trading-venues"
"yearMonth" => "2014-03"
"year" => "2014"
"title" => "Liquidity Supply across Multiple Trading Venues"
"description" => "LESCOURRET, L. et MOINAS, S. (2014). Liquidity Supply across Multiple Trading Venues. Dans: 2014 Midwest Finance Association (MFA) Annual Meeting."
"authors" => array:2 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:1 [
"name" => "MOINAS S."
]
]
"ouvrage" => "2014 Midwest Finance Association (MFA) Annual Meeting"
"keywords" => []
"updatedAt" => "2021-04-19 17:57:25"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
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]
"support_type" => array:2 [
"fr" => null
"en" => null
]
"countries" => array:2 [
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]
"abstract" => array:2 [
"fr" => null
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]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
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+"parent": null
}
2 => Essec\Faculty\Model\Contribution {#2279
#_index: "academ_contributions"
#_id: "6560"
#_source: array:18 [
"id" => "6560"
"slug" => "liquidity-supply-across-multiple-trading-venues"
"yearMonth" => "2014-10"
"year" => "2014"
"title" => "Liquidity Supply Across Multiple Trading Venues"
"description" => "LESCOURRET, L. et MOINAS, S. (2014). Liquidity Supply Across Multiple Trading Venues. Dans: 2014 Annual Meeting of the Financial Management Association."
"authors" => array:2 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:1 [
"name" => "MOINAS S."
]
]
"ouvrage" => "2014 Annual Meeting of the Financial Management Association"
"keywords" => []
"updatedAt" => "2021-04-19 17:57:25"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
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]
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"fr" => null
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"fr" => null
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"authors_fields" => array:2 [
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]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
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+"parent": null
}
3 => Essec\Faculty\Model\Contribution {#2276
#_index: "academ_contributions"
#_id: "6561"
#_source: array:18 [
"id" => "6561"
"slug" => "liquidity-supply-across-multiple-trading-venues"
"yearMonth" => "2014-06"
"year" => "2014"
"title" => "Liquidity Supply Across Multiple Trading Venues"
"description" => "LESCOURRET, L. et MOINAS, S. (2014). Liquidity Supply Across Multiple Trading Venues. Dans: 2014 European Financial Management Association Annual Meeting."
"authors" => array:2 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:1 [
"name" => "MOINAS S."
]
]
"ouvrage" => "2014 European Financial Management Association Annual Meeting"
"keywords" => []
"updatedAt" => "2021-04-19 17:57:25"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
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"support_type" => array:2 [
"fr" => null
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"abstract" => array:2 [
"fr" => null
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"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
4 => Essec\Faculty\Model\Contribution {#2280
#_index: "academ_contributions"
#_id: "6562"
#_source: array:18 [
"id" => "6562"
"slug" => "liquidity-supply-across-multiple-trading-venues"
"yearMonth" => "2014-09"
"year" => "2014"
"title" => "Liquidity Supply Across Multiple Trading Venues"
"description" => "LESCOURRET, L. et MOINAS, S. (2014). Liquidity Supply Across Multiple Trading Venues. Dans: 26th Annual NFA Conference."
"authors" => array:2 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:1 [
"name" => "MOINAS S."
]
]
"ouvrage" => "26th Annual NFA Conference"
"keywords" => []
"updatedAt" => "2021-04-19 17:57:25"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Communications dans une conférence"
"en" => "Presentations at an Academic or Professional conference"
]
"support_type" => array:2 [
"fr" => null
"en" => null
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => null
"en" => null
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
5 => Essec\Faculty\Model\Contribution {#2274
#_index: "academ_contributions"
#_id: "7425"
#_source: array:18 [
"id" => "7425"
"slug" => "the-role-of-preopening-mechanisms-in-fragmented-markets"
"yearMonth" => "2016-12"
"year" => "2016"
"title" => "The Role of Preopening Mechanisms in Fragmented Markets"
"description" => "BOUSSETA, S., LESCOURRET, L. et MOINAS, S. (2016). The Role of Preopening Mechanisms in Fragmented Markets. Dans: Market Microstructure: Sharing many Viewpoints #4."
"authors" => array:3 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:1 [
"name" => "BOUSSETA S."
]
2 => array:1 [
"name" => "MOINAS S."
]
]
"ouvrage" => "Market Microstructure: Sharing many Viewpoints #4"
"keywords" => []
"updatedAt" => "2021-09-24 10:33:27"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Communications dans une conférence"
"en" => "Presentations at an Academic or Professional conference"
]
"support_type" => array:2 [
"fr" => null
"en" => null
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => null
"en" => null
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
6 => Essec\Faculty\Model\Contribution {#2278
#_index: "academ_contributions"
#_id: "7426"
#_source: array:18 [
"id" => "7426"
"slug" => "the-role-of-pre-opening-mechanisms-in-fragmented-markets"
"yearMonth" => "2018-09"
"year" => "2018"
"title" => "The Role of Pre-opening Mechanisms in Fragmented Markets"
"description" => "BOUSSETTA, S., LESCOURRET, L. et MOINAS, S. (2018). The Role of Pre-opening Mechanisms in Fragmented Markets. Dans: Northern Finance Association (NFA) 2018 Annual Conference."
"authors" => array:3 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:1 [
"name" => "BOUSSETTA S."
]
2 => array:1 [
"name" => "MOINAS S."
]
]
"ouvrage" => "Northern Finance Association (NFA) 2018 Annual Conference"
"keywords" => []
"updatedAt" => "2021-09-24 10:33:27"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Communications dans une conférence"
"en" => "Presentations at an Academic or Professional conference"
]
"support_type" => array:2 [
"fr" => null
"en" => null
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => null
"en" => null
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
7 => Essec\Faculty\Model\Contribution {#2281
#_index: "academ_contributions"
#_id: "2769"
#_source: array:18 [
"id" => "2769"
"slug" => "transparency-matters-price-formation-in-the-presence-of-order-preferencing"
"yearMonth" => "2011-05"
"year" => "2011"
"title" => "Transparency matters: Price formation in the presence of order preferencing"
"description" => "LESCOURRET, L. et ROBERT, C.Y. (2011). Transparency matters: Price formation in the presence of order preferencing. <i>Journal of Financial Markets</i>, 14(2), pp. 227-258."
"authors" => array:2 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:1 [
"name" => "ROBERT C.-Y."
]
]
"ouvrage" => ""
"keywords" => array:4 [
0 => "Direction préférentielle du flux d'ordres"
1 => "Fourchette de prix"
2 => "Risque de position"
3 => "Transparence des marchés"
]
"updatedAt" => "2021-02-02 16:16:18"
"publicationUrl" => "https://doi.org/10.1016/j.finmar.2010.09.002"
"publicationInfo" => array:3 [
"pages" => "227-258"
"volume" => "14"
"number" => "2"
]
"type" => array:2 [
"fr" => "Articles"
"en" => "Journal articles"
]
"support_type" => array:2 [
"fr" => "Revue scientifique"
"en" => "Scientific journal"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => "Cet article explore le lien entre flux d'ordres préférentiels, risque de position et prix cotés par les teneurs de marché. Les résultats sont obtenus dans le cadre d'une enchère asymétrique au premier prix. L'obligation de servir les ordres préférentiels amène les teneurs de marché préférencés à prendre des positions non désirées, ce qui diminue leurs incitations à coter agressivement en moyenne. Cette baisse de concurrence provoque un élargissement des fourchettes de prix. Toutefois, la restauration de la pression concurrentielle peut être obtenue (i) en jouant sur le degré de transparence des marchés ; (ii) en favorisant l'entrée de teneurs de marché non préférencés ; (iii) en exigeant plus de financement en capital."
"en" => "Using a market-making inventory model, we analyze the impact of order preferencing on dealers’ quoting behavior by changing the degree of quote disclosure. We find that preferenced orders raise the inventory-holding costs of preferenced dealers, making them less able to post attractive quotes. In turn, competitors choose less aggressive prices, but still attract more likely public orders. Price competition is smoothed and expected market spreads widen. Promoting competition might be, however, enforced by (i) fine tuning through the degree of market transparency, (ii) favoring the entry of unpreferenced dealers, or (iii) requiring preferenced market-makers to have more funding capital."
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
8 => Essec\Faculty\Model\Contribution {#2282
#_index: "academ_contributions"
#_id: "7516"
#_source: array:18 [
"id" => "7516"
"slug" => "transparency-regime-initiatives-and-liquidity-in-the-cds-market"
"yearMonth" => "2015-10"
"year" => "2015"
"title" => "Transparency Regime Initiatives and Liquidity in the CDS Market"
"description" => "FULOP, A. et LESCOURRET, L. (2015). Transparency Regime Initiatives and Liquidity in the CDS Market. Dans: 2015 Financial Management Association (FMA) Annual Meeting."
"authors" => array:2 [
0 => array:3 [
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1 => array:3 [
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]
]
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"fr" => "Finance"
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]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
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+"parent": null
}
9 => Essec\Faculty\Model\Contribution {#2283
#_index: "academ_contributions"
#_id: "7517"
#_source: array:18 [
"id" => "7517"
"slug" => "transparency-regime-initiatives-and-liquidity-in-the-cds-market"
"yearMonth" => "2015-08"
"year" => "2015"
"title" => "Transparency Regime Initiatives and Liquidity in the CDS Market"
"description" => "FULOP, A. et LESCOURRET, L. (2015). Transparency Regime Initiatives and Liquidity in the CDS Market. Dans: 42nd Annual Meeting of the European Finance Association."
"authors" => array:2 [
0 => array:3 [
"name" => "FULOP Andras"
"bid" => "B00072302"
"slug" => "fulop-andras"
]
1 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
]
"ouvrage" => "42nd Annual Meeting of the European Finance Association"
"keywords" => []
"updatedAt" => "2021-04-19 17:57:25"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
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"support_type" => array:2 [
"fr" => null
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"fr" => null
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]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
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+"parent": null
}
10 => Essec\Faculty\Model\Contribution {#2284
#_index: "academ_contributions"
#_id: "7518"
#_source: array:18 [
"id" => "7518"
"slug" => "transparency-regime-initiatives-and-liquidity-in-the-cds-market"
"yearMonth" => "2015-09"
"year" => "2015"
"title" => "Transparency Regime Initiatives and Liquidity in the CDS Market"
"description" => "FULOP, A. et LESCOURRET, L. (2015). Transparency Regime Initiatives and Liquidity in the CDS Market. Dans: 2015 Northern Finance Association (NFA) Conference."
"authors" => array:2 [
0 => array:3 [
"name" => "FULOP Andras"
"bid" => "B00072302"
"slug" => "fulop-andras"
]
1 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
]
"ouvrage" => "2015 Northern Finance Association (NFA) Conference"
"keywords" => []
"updatedAt" => "2021-04-19 17:57:25"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
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]
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"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
11 => Essec\Faculty\Model\Contribution {#2285
#_index: "academ_contributions"
#_id: "7519"
#_source: array:18 [
"id" => "7519"
"slug" => "transparency-regime-initiatives-and-liquidity-in-the-cds-market"
"yearMonth" => "2016-06"
"year" => "2016"
"title" => "Transparency Regime Initiatives and Liquidity in the CDS Market"
"description" => "FULOP, A. et LESCOURRET, L. (2016). Transparency Regime Initiatives and Liquidity in the CDS Market. Dans: 9th Annual Society for Financial Econometrics (SoFiE) Conference."
"authors" => array:2 [
0 => array:3 [
"name" => "FULOP Andras"
"bid" => "B00072302"
"slug" => "fulop-andras"
]
1 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
]
"ouvrage" => "9th Annual Society for Financial Econometrics (SoFiE) Conference"
"keywords" => []
"updatedAt" => "2021-04-19 17:57:25"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
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"en" => "Presentations at an Academic or Professional conference"
]
"support_type" => array:2 [
"fr" => null
"en" => null
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => null
"en" => null
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
12 => Essec\Faculty\Model\Contribution {#2286
#_index: "academ_contributions"
#_id: "7520"
#_source: array:18 [
"id" => "7520"
"slug" => "transparency-regime-initiatives-and-liquidity-in-the-cds-market"
"yearMonth" => "2016-06"
"year" => "2016"
"title" => "Transparency Regime Initiatives and Liquidity in the CDS Market"
"description" => "FULOP, A. et LESCOURRET, L. (2016). Transparency Regime Initiatives and Liquidity in the CDS Market. Dans: 2016 Financial Intermediation Research Society (FIRS) Conference."
"authors" => array:2 [
0 => array:3 [
"name" => "FULOP Andras"
"bid" => "B00072302"
"slug" => "fulop-andras"
]
1 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
]
"ouvrage" => "2016 Financial Intermediation Research Society (FIRS) Conference"
"keywords" => []
"updatedAt" => "2021-04-19 17:57:25"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
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"en" => "Presentations at an Academic or Professional conference"
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"support_type" => array:2 [
"fr" => null
"en" => null
]
"countries" => array:2 [
"fr" => null
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"abstract" => array:2 [
"fr" => null
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]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
13 => Essec\Faculty\Model\Contribution {#2287
#_index: "academ_contributions"
#_id: "7521"
#_source: array:18 [
"id" => "7521"
"slug" => "transparency-regimes-and-liquidity-in-the-cds-market"
"yearMonth" => "2014-08"
"year" => "2014"
"title" => "Transparency Regimes and Liquidity in the CDS Market"
"description" => "LESCOURRET, L. et FULOP, A. (2014). Transparency Regimes and Liquidity in the CDS Market. Dans: 68th European Meeting of the Econometric Society."
"authors" => array:2 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:3 [
"name" => "FULOP Andras"
"bid" => "B00072302"
"slug" => "fulop-andras"
]
]
"ouvrage" => "68th European Meeting of the Econometric Society"
"keywords" => []
"updatedAt" => "2021-04-19 17:57:25"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Communications dans une conférence"
"en" => "Presentations at an Academic or Professional conference"
]
"support_type" => array:2 [
"fr" => null
"en" => null
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => null
"en" => null
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
14 => Essec\Faculty\Model\Contribution {#2288
#_index: "academ_contributions"
#_id: "9958"
#_source: array:18 [
"id" => "9958"
"slug" => "information-sharing-liquidity-and-transaction-costs-in-floor-based-trading-systems"
"yearMonth" => "2003-12"
"year" => "2003"
"title" => "Information Sharing, Liquidity and Transaction Costs in Floor-Based Trading Systems"
"description" => "LESCOURRET, L. et FOUCAULT, T. (2003). Information Sharing, Liquidity and Transaction Costs in Floor-Based Trading Systems. <i>Finance</i>, 24, pp. 45-78."
"authors" => array:2 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:1 [
"name" => "FOUCAULT T."
]
]
"ouvrage" => ""
"keywords" => []
"updatedAt" => "2021-07-13 14:31:24"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => "45-78"
"volume" => "24"
"number" => null
]
"type" => array:2 [
"fr" => "Articles"
"en" => "Journal articles"
]
"support_type" => array:2 [
"fr" => "Revue scientifique"
"en" => "Scientific journal"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => null
"en" => null
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
15 => Essec\Faculty\Model\Contribution {#2289
#_index: "academ_contributions"
#_id: "4022"
#_source: array:18 [
"id" => "4022"
"slug" => "microstructure-des-marches"
"yearMonth" => "2014-05"
"year" => "2014"
"title" => "Microstructure des marchés"
"description" => "LESCOURRET, L. et VANDELANOITE, S. (2014). Microstructure des marchés. Dans: <i>Encyclopaedia Universalis</i>. 1st ed. Encyclopædia Britannica, Inc."
"authors" => array:2 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:1 [
"name" => "VANDELANOITE S."
]
]
"ouvrage" => "Encyclopaedia Universalis"
"keywords" => []
"updatedAt" => "2021-09-06 14:06:32"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Chapitres"
"en" => "Book chapters"
]
"support_type" => array:2 [
"fr" => "Editeur"
"en" => "Publisher"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => null
"en" => null
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
16 => Essec\Faculty\Model\Contribution {#2290
#_index: "academ_contributions"
#_id: "4662"
#_source: array:18 [
"id" => "4662"
"slug" => "how-liquid-is-the-cds-market"
"yearMonth" => "2008-01"
"year" => "2008"
"title" => "How liquid is the CDS market?"
"description" => "LESCOURRET, L. et FULOP, A. (2008). How liquid is the CDS market? Dans: <i>EFA 2008 ATHENS Proceedings</i>. SSRN."
"authors" => array:2 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:3 [
"name" => "FULOP Andras"
"bid" => "B00072302"
"slug" => "fulop-andras"
]
]
"ouvrage" => "EFA 2008 ATHENS Proceedings"
"keywords" => array:4 [
0 => "Coût de transaction"
1 => "Dérivés de crédit"
2 => "Liquidité"
3 => "Marché interdealer"
]
"updatedAt" => "2021-04-19 17:57:25"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Actes d'une conférence"
"en" => "Conference Proceedings"
]
"support_type" => array:2 [
"fr" => "Editeur"
"en" => "Publisher"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => "Site internet:"
"en" => "Site internet:"
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
17 => Essec\Faculty\Model\Contribution {#2291
#_index: "academ_contributions"
#_id: "4663"
#_source: array:18 [
"id" => "4663"
"slug" => "how-liquid-is-the-cds-market"
"yearMonth" => "2008-09"
"year" => "2008"
"title" => "How Liquid is the CDS Market?"
"description" => "FULOP, A. et LESCOURRET, L. (2008). How Liquid is the CDS Market? Dans: <i>4th Central Bank Workshop on the Microstructure of Financial Markets</i>. Hong Kong Institute for Monetary Research."
"authors" => array:2 [
0 => array:3 [
"name" => "FULOP Andras"
"bid" => "B00072302"
"slug" => "fulop-andras"
]
1 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
]
"ouvrage" => "4th Central Bank Workshop on the Microstructure of Financial Markets"
"keywords" => []
"updatedAt" => "2021-04-19 17:57:25"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Actes d'une conférence"
"en" => "Conference Proceedings"
]
"support_type" => array:2 [
"fr" => "Editeur"
"en" => "Publisher"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => null
"en" => null
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
18 => Essec\Faculty\Model\Contribution {#2292
#_index: "academ_contributions"
#_id: "1187"
#_source: array:18 [
"id" => "1187"
"slug" => "extreme-dependence-of-multivariate-catastrophic-losses"
"yearMonth" => "2006-01"
"year" => "2006"
"title" => "Extreme Dependence of Multivariate Catastrophic Losses"
"description" => "LESCOURRET, L. et ROBERT, C.Y. (2006). Extreme Dependence of Multivariate Catastrophic Losses. <i>Scandinavian Actuarial Journal</i>, pp. 203-225."
"authors" => array:2 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:1 [
"name" => "ROBERT C.Y."
]
]
"ouvrage" => ""
"keywords" => array:3 [
0 => "Dépendance extrême"
1 => "Probabilités d'évènements extrêmes"
2 => "Théorie des valeurs extrêmes"
]
"updatedAt" => "2020-12-17 17:55:06"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => "203-225"
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Articles"
"en" => "Journal articles"
]
"support_type" => array:2 [
"fr" => "Revue scientifique"
"en" => "Scientific journal"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => "Natural catastrophes cause insurance losses in several different lines of business. An approach to modelling the dependence in loss severities is to assume that they are related to the intensity of the natural disaster. In this paper we introduce a factor model and investigate the extreme dependence. We derive a specific extreme dependence structure when considering an heavy-tailed intensity. Estimation procedures are presented and their moderate sample properties are compared in a simulation study. We also motivate our approach by an illustrative example from storm insurance."
"en" => "Natural catastrophes cause insurance losses in several different lines of business. An approach to modelling the dependence in loss severities is to assume that they are related to the intensity of the natural disaster. In this paper we introduce a factor model and investigate the extreme dependence. We derive a specific extreme dependence structure when considering an heavy-tailed intensity. Estimation procedures are presented and their moderate sample properties are compared in a simulation study. We also motivate our approach by an illustrative example from storm insurance."
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
19 => Essec\Faculty\Model\Contribution {#2293
#_index: "academ_contributions"
#_id: "6131"
#_source: array:18 [
"id" => "6131"
"slug" => "how-liquid-is-the-cds-market"
"yearMonth" => "2008-03"
"year" => "2008"
"title" => "How Liquid is the CDS Market?"
"description" => "LESCOURRET, L. et FULOP, A. (2008). How Liquid is the CDS Market?"
"authors" => array:2 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:3 [
"name" => "FULOP Andras"
"bid" => "B00072302"
"slug" => "fulop-andras"
]
]
"ouvrage" => ""
"keywords" => []
"updatedAt" => "2021-04-19 17:57:25"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Communications dans une conférence"
"en" => "Presentations at an Academic or Professional conference"
]
"support_type" => array:2 [
"fr" => null
"en" => null
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => null
"en" => null
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
20 => Essec\Faculty\Model\Contribution {#2294
#_index: "academ_contributions"
#_id: "804"
#_source: array:18 [
"id" => "804"
"slug" => "cold-case-file-inventory-risk-and-information-sharing-during-the-pre-1997-nasdaq"
"yearMonth" => "2017-05"
"year" => "2017"
"title" => "Cold Case File? Inventory Risk and Information Sharing during the pre-1997 NASDAQ"
"description" => "LESCOURRET, L. (2017). Cold Case File? Inventory Risk and Information Sharing during the pre-1997 NASDAQ. <i>European Financial Management</i>, 23(4), pp. 761–806."
"authors" => array:1 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
]
"ouvrage" => ""
"keywords" => array:5 [
0 => "OTC markets"
1 => "Preopen"
2 => "NASDAQ"
3 => "Information sharing"
4 => "Price reversals"
]
"updatedAt" => "2021-09-24 10:33:27"
"publicationUrl" => "https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3045565"
"publicationInfo" => array:3 [
"pages" => "761–806"
"volume" => "23"
"number" => "4"
]
"type" => array:2 [
"fr" => "Articles"
"en" => "Journal articles"
]
"support_type" => array:2 [
"fr" => "Revue scientifique"
"en" => "Scientific journal"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => "This paper shows that dealers in Over-The-Counter (OTC) markets might choose to share information about transient price pressures. Using data from the pre-1997 NASDAQ preopening, I find that the frequency and magnitude of non-positive spreads (the information-sharing vehicle) initiated by wholesalers (specialised market-makers with a high exposure to inventory risk) are strongly related to opening price reversals and daily trading imbalances. This activity is more likely to occur on days of large liquidity shocks, and it is not observed for other dealers. Overall, the obligation to absorb price pressure at a yet unknown opening price might induce dealers to communicate the direction in which the opening price should move. The findings contain lessons for the design of today’s OTC markets."
"en" => "This paper shows that dealers in Over-The-Counter (OTC) markets might choose to share information about transient price pressures. Using data from the pre-1997 NASDAQ preopening, I find that the frequency and magnitude of non-positive spreads (the information-sharing vehicle) initiated by wholesalers (specialised market-makers with a high exposure to inventory risk) are strongly related to opening price reversals and daily trading imbalances. This activity is more likely to occur on days of large liquidity shocks, and it is not observed for other dealers. Overall, the obligation to absorb price pressure at a yet unknown opening price might induce dealers to communicate the direction in which the opening price should move. The findings contain lessons for the design of today’s OTC markets."
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
21 => Essec\Faculty\Model\Contribution {#2295
#_index: "academ_contributions"
#_id: "931"
#_source: array:18 [
"id" => "931"
"slug" => "dark-pools-et-trading-haute-frequence-une-evolution-utile"
"yearMonth" => "2015-12"
"year" => "2015"
"title" => "Dark pools et trading haute fréquence : une évolution utile?"
"description" => "DECLERCK, F. et LESCOURRET, L. (2015). Dark pools et trading haute fréquence : une évolution utile? <i>Revue d'Économie Financière</i>, (120), pp. 113-126."
"authors" => array:2 [
0 => array:3 [
"name" => "DECLERCK Francis"
"bid" => "B00000143"
"slug" => "declerck-francis"
]
1 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
]
"ouvrage" => ""
"keywords" => []
"updatedAt" => "2021-02-02 16:16:18"
"publicationUrl" => "https://www.cairn.info/revue-d-economie-financiere-2015-4-page-113.htm"
"publicationInfo" => array:3 [
"pages" => "113-126"
"volume" => null
"number" => "120"
]
"type" => array:2 [
"fr" => "Articles"
"en" => "Journal articles"
]
"support_type" => array:2 [
"fr" => "Revue scientifique"
"en" => "Scientific journal"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => "Technological innovation and regulatory changes have favored the development of two growing phenomena associated with increased opacity in financial markets: dark pools and high-frequency trading (HFT). This article analyzes benefits, new risks and regulatory challenges raised by HFT and dark pools."
"en" => "Technological innovation and regulatory changes have favored the development of two growing phenomena associated with increased opacity in financial markets: dark pools and high-frequency trading (HFT). This article analyzes benefits, new risks and regulatory challenges raised by HFT and dark pools."
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
22 => Essec\Faculty\Model\Contribution {#2296
#_index: "academ_contributions"
#_id: "3364"
#_source: array:18 [
"id" => "3364"
"slug" => "a-first-look-at-the-microstructure-of-the-cds-market"
"yearMonth" => "2009-09"
"year" => "2009"
"title" => "A First Look at the Microstructure of the CDS Market"
"description" => "FULOP, A. et LESCOURRET, L. (2009). A First Look at the Microstructure of the CDS Market. Dans: <i>Financial Risks. New Developments in Structured Product & Credit Derivatives</i>. 1st ed. Economica, pp. 133-141."
"authors" => array:2 [
0 => array:3 [
"name" => "FULOP Andras"
"bid" => "B00072302"
"slug" => "fulop-andras"
]
1 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
]
"ouvrage" => "Financial Risks. New Developments in Structured Product & Credit Derivatives"
"keywords" => []
"updatedAt" => "2021-09-06 14:06:32"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => "133-141"
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Chapitres"
"en" => "Book chapters"
]
"support_type" => array:2 [
"fr" => "Revue scientifique"
"en" => "Scientific journal"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => null
"en" => null
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
23 => Essec\Faculty\Model\Contribution {#2297
#_index: "academ_contributions"
#_id: "12828"
#_source: array:18 [
"id" => "12828"
"slug" => "standardization-transparency-initiatives-and-liquidity-in-the-cds-market"
"yearMonth" => "2022-06"
"year" => "2022"
"title" => "Standardization, transparency initiatives, and liquidity in the CDS market"
"description" => "DAURES-LESCOURRET, L. et FULOP, A. (2022). Standardization, transparency initiatives, and liquidity in the CDS market. <i>Journal of Financial Markets</i>, 59, Part A, pp. 100718."
"authors" => array:2 [
0 => array:3 [
"name" => "DAURES-LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:3 [
"name" => "FULOP Andras"
"bid" => "B00072302"
"slug" => "fulop-andras"
]
]
"ouvrage" => ""
"keywords" => array:4 [
0 => "Credit default swap"
1 => "Liquidity, Transparency"
2 => "Small bang"
3 => "Counterparty risk"
]
"updatedAt" => "2023-01-27 01:00:42"
"publicationUrl" => "https://doi.org/10.1016/j.finmar.2022.100718"
"publicationInfo" => array:3 [
"pages" => "100718"
"volume" => "59, Part A"
"number" => ""
]
"type" => array:2 [
"fr" => "Articles"
"en" => "Journal articles"
]
"support_type" => array:2 [
"fr" => "Revue scientifique"
"en" => "Scientific journal"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => "We investigate liquidity changes in the credit default swap (CDS) market around two events that increased market transparency and standardization during the Great Financial Crisis: the dissemination of CDS positions starting in November 2008, and the implementation of the Small Bang in July 2009. We build an econometric model based on bid and ask quotes to measure liquidity in thinly traded CDSs. We find that, after the release of CDS positions, the market-wide deterioration in liquidity is less important for banks, consistent with information revelation alleviating systemic risk uncertainty. The Small Bang also improved liquidity, particularly for more illiquid CDSs."
"en" => "We investigate liquidity changes in the credit default swap (CDS) market around two events that increased market transparency and standardization during the Great Financial Crisis: the dissemination of CDS positions starting in November 2008, and the implementation of the Small Bang in July 2009. We build an econometric model based on bid and ask quotes to measure liquidity in thinly traded CDSs. We find that, after the release of CDS positions, the market-wide deterioration in liquidity is less important for banks, consistent with information revelation alleviating systemic risk uncertainty. The Small Bang also improved liquidity, particularly for more illiquid CDSs."
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
24 => Essec\Faculty\Model\Contribution {#2298
#_index: "academ_contributions"
#_id: "12873"
#_source: array:18 [
"id" => "12873"
"slug" => "fragmentation-and-strategic-market-making"
"yearMonth" => "2023-06"
"year" => "2023"
"title" => "Fragmentation and Strategic Market-Making"
"description" => "DAURES-LESCOURRET, L. et MOINAS, S. (2023). Fragmentation and Strategic Market-Making. <i>Journal of Financial and Quantitative Analysis</i>, 58(4), pp. 1675-1700."
"authors" => array:2 [
0 => array:3 [
"name" => "DAURES-LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:1 [
"name" => "MOINAS Sophie"
]
]
"ouvrage" => ""
"keywords" => array:3 [
0 => "Fragmentation"
1 => "Market-Making"
2 => "Imperfect Competition"
]
"updatedAt" => "2023-07-03 12:03:19"
"publicationUrl" => "https://doi.org/10.1017/S0022109022000394"
"publicationInfo" => array:3 [
"pages" => "1675-1700"
"volume" => "58"
"number" => "4"
]
"type" => array:2 [
"fr" => "Articles"
"en" => "Journal articles"
]
"support_type" => array:2 [
"fr" => "Revue scientifique"
"en" => "Scientific journal"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => "How does trading in one venue affect the quoting strategies of market-makers in other venues? We develop a two-venue imperfect competition model in which market-makers face quadratic costs when absorbing shocks. Non constant marginal costs imply that absorbing a shock in one venue simultaneously changes marginal costs in all other venues. Moreover, market-makers strategically choose which shock(s) to absorb. These two forces may intensify competition, leading to enhanced liquidity. Using Euronext proprietary data, we track individual best bid and ask quotes of intermediaries in each venue. We uncover evidence of strategic cross-venue market-making behavior which is uniquely predicted by our model."
"en" => "How does trading in one venue affect the quoting strategies of market-makers in other venues? We develop a two-venue imperfect competition model in which market-makers face quadratic costs when absorbing shocks. Non constant marginal costs imply that absorbing a shock in one venue simultaneously changes marginal costs in all other venues. Moreover, market-makers strategically choose which shock(s) to absorb. These two forces may intensify competition, leading to enhanced liquidity. Using Euronext proprietary data, we track individual best bid and ask quotes of intermediaries in each venue. We uncover evidence of strategic cross-venue market-making behavior which is uniquely predicted by our model."
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
25 => Essec\Faculty\Model\Contribution {#2299
#_index: "academ_contributions"
#_id: "7515"
#_source: array:18 [
"id" => "7515"
"slug" => "transparency-regime-initiatives-and-liquidity-in-the-cds-market"
"yearMonth" => "2015-06"
"year" => "2015"
"title" => "Transparency Regime Initiatives and Liquidity in the CDS Market"
"description" => "LESCOURRET, L. et FULOP, A. (2015). Transparency Regime Initiatives and Liquidity in the CDS Market. Dans: 7th International Conference of the The International Finance and Banking Society (IFABS): The Future of Financial Institutions and Markets: Navigating the Challenges Ahead."
"authors" => array:2 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:3 [
"name" => "FULOP Andras"
"bid" => "B00072302"
"slug" => "fulop-andras"
]
]
"ouvrage" => "7th International Conference of the The International Finance and Banking Society (IFABS): The Future of Financial Institutions and Markets: Navigating the Challenges Ahead"
"keywords" => []
"updatedAt" => "2021-04-19 17:57:25"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Communications dans une conférence"
"en" => "Presentations at an Academic or Professional conference"
]
"support_type" => array:2 [
"fr" => null
"en" => null
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => null
"en" => null
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
26 => Essec\Faculty\Model\Contribution {#2300
#_index: "academ_contributions"
#_id: "8227"
#_source: array:18 [
"id" => "8227"
"slug" => "liquidity-supply-across-multiple-trading-venues"
"yearMonth" => "2015-03"
"year" => "2015"
"title" => "Liquidity Supply Across Multiple Trading Venues"
"description" => "LESCOURRET, L. et MOINAS, S. (2015). <i>Liquidity Supply Across Multiple Trading Venues</i>. ESSEC Business School."
"authors" => array:2 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:1 [
"name" => "MOINAS S"
]
]
"ouvrage" => ""
"keywords" => []
"updatedAt" => "2020-12-17 21:00:33"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Documents de travail"
"en" => "Working Papers"
]
"support_type" => array:2 [
"fr" => "Editeur"
"en" => "Publisher"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => "Financial markets are increasingly fragmented. How to supply liquidity in this environment? Using an inventory model, we analyze how two strategic intermediaries compete across two venues that can be hit simultaneously by liquidity shocks of equal or opposite signs. Although order flow is fragmented ex-ante, we show that intermediaries might strategically consolidate it ex-post, improving global liquidity. We also find that local spreads co-move together across venues as a result of global inventory management. Using Euronext proprietary data, we uncover new evidence of inventory control across venues and find that local spreads vary in a way uniquely predicted by the model."
"en" => "Financial markets are increasingly fragmented. How to supply liquidity in this environment? Using an inventory model, we analyze how two strategic intermediaries compete across two venues that can be hit simultaneously by liquidity shocks of equal or opposite signs. Although order flow is fragmented ex-ante, we show that intermediaries might strategically consolidate it ex-post, improving global liquidity. We also find that local spreads co-move together across venues as a result of global inventory management. Using Euronext proprietary data, we uncover new evidence of inventory control across venues and find that local spreads vary in a way uniquely predicted by the model."
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
27 => Essec\Faculty\Model\Contribution {#2301
#_index: "academ_contributions"
#_id: "8288"
#_source: array:18 [
"id" => "8288"
"slug" => "non-fundamental-information-and-market-makers-behavior-during-the-nasdaq-preopening-session"
"yearMonth" => "2012-12"
"year" => "2012"
"title" => "Non-fundamental Information and Market-makers' Behavior during the NASDAQ Preopening Session"
"description" => "LESCOURRET, L. (2012). <i>Non-fundamental Information and Market-makers' Behavior during the NASDAQ Preopening Session</i>. ESSEC Business School."
"authors" => array:1 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
]
"ouvrage" => ""
"keywords" => array:5 [
0 => "Information non-fondamentale"
1 => "Microstructure des marchés"
2 => "NASDAQ"
3 => "Préouverture"
4 => "Rebond des prix"
]
"updatedAt" => "2020-12-17 21:00:33"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Documents de travail"
"en" => "Working Papers"
]
"support_type" => array:2 [
"fr" => "Editeur"
"en" => "Publisher"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => "Ce papier examine s’il existe une relation entre le comportement en préouverture des fournisseurs de liquidité sur le NASDAQ et l’information non-fondamentale, cad, concernant des événements non liés aux fondamentaux des actifs échangés. Les prix cotés en préouverture par une certaine catégorie d’opérateurs de marché dénommée les wholesalers, réputés non-informés (métier exclusivement centré sur la tenue de marché) sont très significativement liés aux mesures de pression temporaire sur les prix. La probabilité que les wholesalers cotent en préouverture est également plus importante les jours caractérisés par des chocs de liquidité, mais n’est pas liée aux jours de forte asymétrie d’informations (publication des recommandations d’analystes, annonces de résultats ou de fusions), à la différence des autres opérateurs. Ces résultats semblent donc indiquer que l’information non-fondamentale a un impact significatif sur les stratégies de cotation des fournisseurs de liquidité."
"en" => "This paper examines whether NASDAQ dealers' preopening quotes might be related to non-fundamental information, that is, information about transient trading pressure unrelated to fundamentals. Preopening quotes posted by wholesalers (dealers specialized in market-making and thus presumably more exposed to inventory risks) are strongly related to opening price reversals and daily order imbalances (trading pressure measures). Wholesalers are more likely to post preopening quotes on days characterized by large liquidity shocks or days following larger order imbalances, but not on days of strong informational asymmetry about fundamentals (days of analyst recommendation releases, earnings announcements or merger announcements). These patterns do not hold for other intermediaries, namely institutional brokers providing sell-side coverage. Overall, I interpret this as evidence that non-fundamental information matters during the preopening session and impacts intermediaries' preopening behavior."
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
28 => Essec\Faculty\Model\Contribution {#2302
#_index: "academ_contributions"
#_id: "8338"
#_source: array:18 [
"id" => "8338"
"slug" => "preferencing-internalization-and-inventory-position"
"yearMonth" => "2006-11"
"year" => "2006"
"title" => "Preferencing, Internalization and Inventory Position"
"description" => "LESCOURRET, L. et ROBERT, Y. (2006). <i>Preferencing, Internalization and Inventory Position</i>. ESSEC Business School."
"authors" => array:2 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:1 [
"name" => "ROBERT Y."
]
]
"ouvrage" => ""
"keywords" => []
"updatedAt" => "2020-12-17 21:00:33"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Documents de travail"
"en" => "Working Papers"
]
"support_type" => array:2 [
"fr" => "Editeur"
"en" => "Publisher"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => "We present a model of market-making in which dealers differ by their current inventory positions and by their preferencing agreements. Under preferencing, dealers receive captive orders that they guarantee to execute at the best price. We show that preferencing raises the inventory holding costs of preferenced dealers. In turn, competitors post less aggressive quotes. Since price-competition is softened, expected spreads widen. The entry of unpreferenced dealers, or the ability to route preferenced orders to best-quoting dealers, as internalization does restore price competitiveness. We also show that a greater transparency may negatively affect expected spreads, depending on the scale of preferencing."
"en" => "We present a model of market-making in which dealers differ by their current inventory positions and by their preferencing agreements. Under preferencing, dealers receive captive orders that they guarantee to execute at the best price. We show that preferencing raises the inventory holding costs of preferenced dealers. In turn, competitors post less aggressive quotes. Since price-competition is softened, expected spreads widen. The entry of unpreferenced dealers, or the ability to route preferenced orders to best-quoting dealers, as internalization does restore price competitiveness. We also show that a greater transparency may negatively affect expected spreads, depending on the scale of preferencing."
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
29 => Essec\Faculty\Model\Contribution {#2303
#_index: "academ_contributions"
#_id: "8712"
#_source: array:18 [
"id" => "8712"
"slug" => "bowie-lhomme-immateriel"
"yearMonth" => "2016-05"
"year" => "2016"
"title" => "Bowie, l’homme immatériel"
"description" => "JENY, A. et LESCOURRET, L. (2016). Bowie, l’homme immatériel. <i>Les Echos</i>."
"authors" => array:2 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:1 [
"name" => "JENY Anne"
]
]
"ouvrage" => ""
"keywords" => array:4 [
0 => "David Bowie"
1 => "Droits d'auteurs"
2 => "Financialisation"
3 => "Immatériel"
]
"updatedAt" => "2020-12-17 18:37:46"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Articles ou vidéos de vulgarisation"
"en" => "Press article, video or other popular media"
]
"support_type" => array:2 [
"fr" => "Presse"
"en" => "Press"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => "L'artiste touche à tout, David Bowie, est l'un des premiers à avoir compris la valeur financière des créations musicales et à tirer parti de leur dématérialisation. Était-il un précurseur dans le monde économique comme dans le monde des arts, en avance sur les nouveaux business models qui reposent sur la financiarisation d’éléments immatériels, comme les droits d’auteur ?"
"en" => "The cameleon artist, David Bowie, is one of the first to understand the financial value of musical creations and leverage their dematerialization. Was he a forerunner in the business world as in the art world, ahead of the new business models that are based on the financialization of intangibles such as copyrights?"
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
30 => Essec\Faculty\Model\Contribution {#2304
#_index: "academ_contributions"
#_id: "5188"
#_source: array:18 [
"id" => "5188"
"slug" => "transparency-matters-price-formation-in-presence-of-order-preferencing"
"yearMonth" => "2008-05"
"year" => "2008"
"title" => "Transparency Matters: Price Formation in Presence of Order Preferencing"
"description" => "LESCOURRET, L. et ROBERT, C. (2008). Transparency Matters: Price Formation in Presence of Order Preferencing. Dans: <i>Proceedings of the 2nd NYSE-Euronexy/ Dauphine Workshop on Financial Market Quality</i>. NYSE-Euronext & Dauphine."
"authors" => array:2 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:1 [
"name" => "ROBERT C."
]
]
"ouvrage" => "Proceedings of the 2nd NYSE-Euronexy/ Dauphine Workshop on Financial Market Quality"
"keywords" => array:3 [
0 => "Accords Préférentiels"
1 => "Fourchette de prix"
2 => "Gestion de stock"
]
"updatedAt" => "2021-04-19 17:57:25"
"publicationUrl" => null
"publicationInfo" => array:3 [
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"countries" => array:2 [
"fr" => null
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"abstract" => array:2 [
"fr" => "Site internet."
"en" => "Site internet."
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
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}
31 => Essec\Faculty\Model\Contribution {#2305
#_index: "academ_contributions"
#_id: "6558"
#_source: array:18 [
"id" => "6558"
"slug" => "liquidity-supply-across-multiple-trading-venues"
"yearMonth" => "2013-06"
"year" => "2013"
"title" => "Liquidity Supply Across Multiple Trading Venues"
"description" => "LESCOURRET, L. et MOINAS, S. (2013). Liquidity Supply Across Multiple Trading Venues. Dans: 2013 FMA European Conference."
"authors" => array:2 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:1 [
"name" => "MOINAS S."
]
]
"ouvrage" => "2013 FMA European Conference"
"keywords" => []
"updatedAt" => "2021-04-19 17:57:25"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Communications dans une conférence"
"en" => "Presentations at an Academic or Professional conference"
]
"support_type" => array:2 [
"fr" => null
"en" => null
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => "Recent regulatory changes have fragmented trading of financial securities, giving rise to the emergence of "global" dealers, that is, intermediaries making the market simultaneously across more than one trading venue. We develop an inventory model in which two risk-averse global dealers compete to absorb part or the totality of an order flow that fragments between two venues."
"en" => "Recent regulatory changes have fragmented trading of financial securities, giving rise to the emergence of "global" dealers, that is, intermediaries making the market simultaneously across more than one trading venue. We develop an inventory model in which two risk-averse global dealers compete to absorb part or the totality of an order flow that fragments between two venues."
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
32 => Essec\Faculty\Model\Contribution {#2306
#_index: "academ_contributions"
#_id: "9984"
#_source: array:18 [
"id" => "9984"
"slug" => "why-is-there-heterogeneity-among-dealers-behavior-during-the-nasdaq-preopening-session"
"yearMonth" => "2003-12"
"year" => "2003"
"title" => "Why is there heterogeneity among dealers' behavior during the Nasdaq preopening session?"
"description" => "LESCOURRET, L. et ROBERT, C. (2003). Why is there heterogeneity among dealers' behavior during the Nasdaq preopening session? Dans: <i>EFMA Basel Meeting</i>. SSRN."
"authors" => array:2 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:1 [
"name" => "ROBERT Christian"
]
]
"ouvrage" => "EFMA Basel Meeting"
"keywords" => array:2 [
0 => "market microstructurepreopening"
1 => "inventory management"
]
"updatedAt" => "2021-07-13 14:31:24"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Actes d'une conférence"
"en" => "Conference Proceedings"
]
"support_type" => array:2 [
"fr" => "Editeur"
"en" => "Publisher"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => "Order preferencing enables a market-maker to execute captive order flow off the primary market. This practice is known to generate wider spreads due to its anti-competitive effects. It also increased inventory risks for dealers. The Nasdaq preopening offers a laboratory to test whether market-makers use non-binding prices as a tool to control their inventory position. Our findings corroborate our main hypothesis that the Nasdaq non-trading mechanism incorporates inventory information into prices."
"en" => "Order preferencing enables a market-maker to execute captive order flow off the primary market. This practice is known to generate wider spreads due to its anti-competitive effects. It also increased inventory risks for dealers. The Nasdaq preopening offers a laboratory to test whether market-makers use non-binding prices as a tool to control their inventory position. Our findings corroborate our main hypothesis that the Nasdaq non-trading mechanism incorporates inventory information into prices."
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
33 => Essec\Faculty\Model\Contribution {#2307
#_index: "academ_contributions"
#_id: "11199"
#_source: array:18 [
"id" => "11199"
"slug" => "les-bourses-face-au-defi-de-linternalisation"
"yearMonth" => "2005-12"
"year" => "2005"
"title" => "Les bourses face au défi de l’internalisation"
"description" => "LESCOURRET, L. (2005). Les bourses face au défi de l’internalisation. <i>Problèmes économiques</i>, pp. 25-27."
"authors" => array:1 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
]
"ouvrage" => ""
"keywords" => []
"updatedAt" => "2020-12-17 18:37:46"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => "25-27"
"volume" => null
"number" => "2888"
]
"type" => array:2 [
"fr" => "Articles ou vidéos de vulgarisation"
"en" => "Press article, video or other popular media"
]
"support_type" => array:2 [
"fr" => "Presse"
"en" => "Press"
]
"countries" => array:2 [
"fr" => "France"
"en" => "France"
]
"abstract" => array:2 [
"fr" => "Under internalization, financial intermediaries are allowed to execute orders off the primary market. This practice is still unauthorized in France, Italy and Spain. The MiFID requires, however, Member States of the EU to allow internalization from 2007. This practice raises concerns and constitutes a challenge for European exchanges in terms of order flows, and viable market size."
"en" => "Under internalization, financial intermediaries are allowed to execute orders off the primary market. This practice is still unauthorized in France, Italy and Spain. The MiFID requires, however, Member States of the EU to allow internalization from 2007. This practice raises concerns and constitutes a challenge for European exchanges in terms of order flows, and viable market size."
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
34 => Essec\Faculty\Model\Contribution {#2308
#_index: "academ_contributions"
#_id: "4828"
#_source: array:18 [
"id" => "4828"
"slug" => "liquidity-supply-in-multiple-markets"
"yearMonth" => "2006-06"
"year" => "2006"
"title" => "Liquidity Supply in Multiple Markets?"
"description" => "LESCOURRET, L. et MOINAS, S. (2006). Liquidity Supply in Multiple Markets? Dans: <i>EFMA 2006</i>. European Financial Management Association (EFMA)."
"authors" => array:2 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:1 [
"name" => "MOINAS S."
]
]
"ouvrage" => "EFMA 2006"
"keywords" => array:3 [
0 => "Fragmentation des marchés"
1 => "Gestion de la position"
2 => "Microstructure des marchés"
]
"updatedAt" => "2021-04-19 17:57:25"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => null
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Actes d'une conférence"
"en" => "Conference Proceedings"
]
"support_type" => array:2 [
"fr" => "Editeur"
"en" => "Publisher"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => "Using an inventory model based on Ho and Stoll (1983), this paper examines how two competing risk-averse dealers supply liquidity in two different market systems. We find that price formation and market spreads are directly impacted by the way order flows are correlated ins systems. If order flows are negatively correlated, dealers expect to better manage their inventory position and market spreads reduce. When order flows are positively correlated, dealers are more likely to be touched on the same side which increases their inventory and market spreads increase. Further, this model shed new light on some empirical results (Hansh (2001), or Werner and Kleidon (1996))."
"en" => "Using an inventory model based on Ho and Stoll (1983), this paper examines how two competing risk-averse dealers supply liquidity in two different market systems. We find that price formation and market spreads are directly impacted by the way order flows are correlated ins systems. If order flows are negatively correlated, dealers expect to better manage their inventory position and market spreads reduce. When order flows are positively correlated, dealers are more likely to be touched on the same side which increases their inventory and market spreads increase. Further, this model shed new light on some empirical results (Hansh (2001), or Werner and Kleidon (1996))."
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
35 => Essec\Faculty\Model\Contribution {#2309
#_index: "academ_contributions"
#_id: "4977"
#_source: array:18 [
"id" => "4977"
"slug" => "preferencing-internalization-and-dealer-inventory"
"yearMonth" => "2005-04"
"year" => "2005"
"title" => "Preferencing, Internalization and Dealer Inventory"
"description" => "LESCOURRET, L. et ROBERT, C.Y. (2005). Preferencing, Internalization and Dealer Inventory. Dans: <i>Proceedings of International Conference on New Financial Market Structures</i>. HEC Montreal, pp. 1-50."
"authors" => array:2 [
0 => array:3 [
"name" => "LESCOURRET Laurence"
"bid" => "B00024824"
"slug" => "daures-laurence"
]
1 => array:1 [
"name" => "ROBERT Ch. Y."
]
]
"ouvrage" => "Proceedings of International Conference on New Financial Market Structures"
"keywords" => []
"updatedAt" => "2021-04-19 17:57:25"
"publicationUrl" => null
"publicationInfo" => array:3 [
"pages" => "1-50"
"volume" => null
"number" => null
]
"type" => array:2 [
"fr" => "Actes d'une conférence"
"en" => "Conference Proceedings"
]
"support_type" => array:2 [
"fr" => "Editeur"
"en" => "Publisher"
]
"countries" => array:2 [
"fr" => null
"en" => null
]
"abstract" => array:2 [
"fr" => "Ce papier analyse la façon dont l'internalisation des ordres et le "preferencing" (pratiques permettant l'exécution d'ordres captifs hors du marché central) affectent les stratégies de cotation de deux teneurs de marché averses au risque. Nous montrons que lorsque la concurrence est faible, l'internalisation et le preferencing augmentent les fourchettes de prix, alors que lorsque la concurrence est vive, seule l'internalisation a un impact négatif sur la concurrence et les fourchettes."
"en" => "This paper examines how preferencing and internalization affect the quote-setting behaviour of risk-averse dealers who differ in their inventory. When competition is weak, both practices impede price competition and lead to wider markets spreads. However, in a highly competitive market internalization is detrimental to market spreads whereas preferencing is not any more."
]
"authors_fields" => array:2 [
"fr" => "Finance"
"en" => "Finance"
]
"indexedAt" => "2024-12-21T14:21:48.000Z"
]
+lang: "en"
+"_type": "_doc"
+"_score": 5.9993205
+"parent": null
}
]
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"docTitle" => "Laurence DAURES"
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